Royal Exchange Assurance, Nigeria

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The Royal Exchange Assurance Company of Nigeria was established on February 28, 1921 with the arrival of Mr C.C. Aldrige, the first full time insurance salesman in West Africa. The company was established as a Nigerian branch of the British Royal Exchange Assurance Company.

History

Historically, the primary focus of the firm was in marine, fire and automobile insurance with life insurance policy given little consideraton though it insured Africans under the age of 65.

Established after the first World War or the great war, the company was the only major insurance company since its inception until 1945. In later years, a large equity in the company was acquired by the federal government of Nigeria.



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